IN RE CRAZY EDDIE SECURITIES LITIGATION

Nos. 87 C 33, 88 C 3481 and 91 C 4450.

792 F.Supp. 197 (1992)

In re CRAZY EDDIE SECURITIES LITIGATION. Vivian G. BERNSTEIN, as custodian for Jamie A. Bernstein, Karen Kaun, John Papastamatakis, Jerry Krim, Barnett Stepak, Lawrence Lyons, James R. Schwebel, Jeffrey Abrams, Stanley Heineman, and James T. Cain, individually and on behalf of all others similarly situated, Plaintiffs, v. Eddie ANTAR, Sam Antar, Mitchell Antar, Eddy Antar, Solomon E. Antar, Sam E. Antar, Allen Antar, Eddie Gindi, David V. Panoff, Isaac Kairey, Kathleen Morin, Steve Pasquariello, William H. Saltzman, James H. Scott, Jr., Edmond Levy, Carl G. Zimel, Abraham Grinberg, Arnold Spindler, David Neiderbach, Jean Cocchiara, Rose Antar, Deborah Rosen Antar, Lillian Rosen, Benjamin Kuszer, Ellen Kuszer, Lillian Rosen, Sasson Cohen, Jacob Tambor, Zazy International Corp., Leonard Rubin, Richard Portnoy, Wren Distributing Co., Gary Perlmutter, Mark Halperin, J. Liebman & Co., Penn & Horowitz and Peat Marwick Main & Co., Defendants. and Adam Kuszer, Sam Kuszer, Simon Kuszer, Rose M. Antar, Sam M. Antar, Sam A. Antar, Michelle Antar, Rori Antar, Gabrielle Antar, Danielle Antar, Simone Antar, Nicole Antar, and Noelle Antar, Nominal Defendants.

United States District Court, E.D. New York.

May 1, 1992.


Attorney(s) appearing for the Case

Sirota & Sirota (Howard B. Sirota, of counsel), New York City, for plaintiffs.

Milberg, Weiss, Bershad, Specthrie & Lerach (David J. Bershad, Michael C. Spencer, of counsel), Abbey & Ellis (Arthur Abbey, of counsel), New York City, for plaintiff John Papastamatakis.

Pomerantz, Levy, Haudek, Block & Grossman (Mark I. Gross, of counsel), New York City, for plaintiff Jeffrey Abrams.

Stull, Stull & Brody (Jules Brody, of counsel), New York City, for plaintiff Vivian G. Bernstein.

Lowey, Dannenberg, Bemporad, Brachtl & Selinger, P.C. (Richard Bemporad, of counsel), New York City, for plaintiff James T. Cain.

Kaufman, Malchman, Kaufman & Kirby (Irving Malchman, of counsel), New York City, for plaintiff Stanley Heineman.

Law Offices of Harvey Greenfield (Harvey Greenfield, of counsel), New York City, for plaintiffs Jerry Krim and Barnett Stepak.

Christopher Lovell, P.C., New York City, for plaintiff Larry Lyons.

Law Offices of Joseph H. Weiss, New York City, for plaintiff James R. Schwebel.

Milbank Tweed Hadley & McCloy (C. Stephen Howard, Los Angeles, Cal., Susanne Toes, New York City, of counsel), for plaintiff Oppenheimer-Palmieri Fund Ltd.

Tuttle & Taylor, Los Angeles, Cal., for plaintiffs Elias Zinn, Victor Palmieri, and Entertainment Marketing, Inc.

Folkenflik & McGerity (Max Folkenflik, of counsel), New York City, for plaintiffs Entertainment Marketing Inc. and Elias Zinn.

Shearman & Sterling (Joseph McLaughlin, of counsel), New York City, for defendants Peat Marwick Main & Co. and KMG Main Hurdman.

Kaye, Scholer, Fierman, Hays & Handler (Steven Glassman, of counsel), New York City, for defendant Oppenheimer & Co., Inc.

Davis, Markel & Edwards (Thomas J. Sweeney, III, of counsel), New York City, for defendant Peat Marwick Main & Co.

Weil, Gotshal & Manges (Dennis J. Block, of counsel), New York City, for defendants Salomon Bros., Inc., Bear Stearns & Co., and Wertheim Schroder & Co., Inc.

Wilson Elser Moskowitz Edelman & Dicker (Richard Oelsner, of counsel), New York City, for defendants Penn and Horowitz, J. Liebman & Co., Gary Perlmutter and Mark Halperin.

Hoffman & Pollok, New York City, for defendant Jacob Tambor, Sasson Cohen and Zazy International Corp.

Rosenman & Colin, New York City, for defendants Leonard Rubin, Richard Portnoy and Wren Distributing Co.

Kronish, Lieb, Weiner & Hellman (William O'Brien, Justin N. Feldman, William J. Schwartz, Ivan Kline, of counsel), New York City, for defendant Eddie Antar.

Beldock Levine & Hoffman (Brian E. Mass, of counsel), New York City, for defendant Isaac Kairey.

Leader & Berkon (Frederick D. Berkon, of counsel), New York City, for defendants Solomon E. Antar, Eddy Antar, Steve Pasquariello, Edmond Levy and Carl G. Zimel.

Friedman & Kaplan, New York City, for defendant Eddie Gindi.

David M. Rubin, New York City, for defendant Abraham Grinberg.

Morgan, Lewis & Bockius (Kevin T. Rover, of counsel), New York City, for defendant David V. Panoff.

Kelley, Drye & Warren (John P. Marshall, of counsel), New York City, for defendant James H. Scott, Jr.

Jean Cocchiara, pro se.

Kathleen Morin, pro se.

William H. Saltzman, pro se.

David Neiderbach, pro se.

Arnold Spindler, pro se.

Hellring Lindeman Goldstein & Siegal (Stephen L. Dreyfuss, Matthew E. Moloshok, of counsel), Newark, N.J., for defendants Danielle Antar, Deborah Rosen Antar, Gabrielle Antar, Simone Antar, Nicole Antar and Noelle Antar.

Law Offices of Raoul Lionel Felder, P.C., New York City, for defendant Deborah Rosen Antar.

Gersten, Savage, Kaplowitz & Curtin, New York City, for defendants Michelle Antar, Rose Antar, Rose M. Antar, Rori Antar, Sam A. Antar, Sam M. Antar, Adam Kuszer, Benjamin Kuszer, Ellen Kuszer, Simon Kuszer and Lillian Rosen.

Kostelanetz Ritholz Tigue & Fink, New York City, for defendants Rose Antar and Sam M. Antar.


MEMORANDUM AND ORDER

NICKERSON, District Judge:

There have now been nine actions filed in this court by the various plaintiffs alleging violations of law concerning Crazy Eddie, Inc., a now bankrupt electronics retailer.

The court has before it motions to dismiss all or some part of the complaints brought under the Securities Act of 1933 (the Securities Act), 15 U.S.C. § 77a et seq., the Securities Exchange Act of 1934 (the Exchange Act...

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